When looking to flip houses in Ontario it makes a lot of sense to research cities located one to two hours outside of the GTA (Greater Toronto Area). After all, for people who live and work within the megacity, it already takes them at least an hour to go from one side of the city to the other, so commuting outside of the GTA really isn’t much different. People looking to relocate outside of the city don’t consider the travel to be a hardship and many actually find the change of scenery during the commute (from big city business to bedroom community serenity) to be refreshing.

St Catharines is largest city in the beautiful and historic Niagara region. It is no wonder that it is also referred to as “The Garden City” due to its vast picturesque landscapes, including large woodland parks, public gardens and world-renowned Niagara escarpment leisure and hiking trails. Although tourism is considered to be the main economic driving force behind this city, many established residents, as mentioned above, are already known to commute. The drive or train ride is only about an hour or so. This makes flipping real estate in St Catharines a great prospect for home buyers, and therefor for potential real estate investors.

An investment in St Catharines real estate with the intention of flipping the property for profit is not an undertaking that should be pursued blindly. It is important to research the area; the demographic for the area, budget reasonably, set up a practical timeline, and find trusted professionals to work with along the way.

St. Catharines Area Demographics

Cities like St. Catharines hold a lot of potential for real estate flipping because of the beautiful setting and convenient proximity to the GTA. In addition, as mentioned above the demographic for a majority of potential buyers will be likely to include those willing to commute. A good real estate agent will be able to assist with this research as well as provide other important statistics like purchasing trends , both historical and forecasted.

Budget Reasonably

A reasonable budget, on top of planned spending for property purchase, renovations, closing costs, and any additional carrying costs should also include financing options with mortgage lenders, and a sizable slush fund amount to cover any unforeseen problems that could arise. The slush fund, or contingency amounts should be ample enough to also cover carrying costs should the property not sell as quickly as expected.

Set Up a Practical Timeline

Adhering to a timeline will help to ensure continued forward momentum of the project, without the need to rush anything. Even first time real estate flippers should have common sense enough to know that rushing a renovations and repairs will almost certainly lead to costly errors that will cut into profits.

Find Trusted Professionals to Work With Along The Way

Working with trusted professionals along the way will provide experience and comfort along the way. From the real estate agent who presented solid research on who the most likely buyers are, to the contractors proven to finish on time and on budget, to the mortgage specialist who is offering the very best rates, these invaluable services will all be contributing factors to a lucrative real estate flipping venture.

Get Cashback When Buying and Selling Real Estate and Arranging Mortgages

Cashback mortgages are a fairly well known product that most people have heard of. It is often utilized when buyers need money to help with renovations, closing costs or to furnish their new home. The buyer gets a lump sum of cash when the mortgage closes, however this cash comes with a higher interest rate than a regular mortgage, and financial penalties for breaking the mortgage early.

Not many people do know however, that It is possible to get all the benefits of cashback when closing a mortgage without having to deal with high interest payments and penalty fees. Further to this, it’s also possible to earn no-strings-attached cashback when buying or selling Real Estate. This type of cashback is a great tool for real estate flipping in St. Catharines as the money can be reinvested in the budget to further profit.

This cashback, available from Shop2Save is made possible from their innovative online site that allows members to save big by taking advantage of volume discount pricing. Shop2Save itself is not a real estate firm, nor are they a mortgage brokerage. Rather, they service their members by facilitating the expertise of two of Canadas most trusted names in the business; Remax and Dominion Lending.

Visit Shop2Save today to see how free membership can make flipping real estate in St Catharines even more profitable!